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Market Update

Europe Movers: Vinci, Virgin, Volvo

Author: Barry Randall
Last Update: 9:50 AM ET February 06 2013

Banks across the currency zone were under pressure.

Intesa Sanpaolo declined 2.5%, Commerzbank fell 1.4% and UniCredit decreased 2.4%.

Vinci SA reported revenues in 2012 increased 4.5% to €38.6 billion and net income rose 0.7% to €1.9 billion. Earnings per share increased to €3.54, an increase of 1.6% from a year ago.

The construction company also said order backlog increased 2% to €31.3 billion and guided flat revenues in 2013 before ANA and other possible acquisitions in the year.

Virgin Media slipped 0.7% to 2,870 pence after surging 16% in yesterday’s session and today reported 2012 operating income from continuing operations of 261.4 million pounds.

Volvo AB rose as much as 4% after the company reported weak fourth quarter net income and guided improving markets in the U.S. and Europe.

In the fourth quarter, sales declined 17% to SEK71.8 billion and operating income fell to SEK1.12 billion. For the full-year 2012, sales were SEK303.6 billion and operating income of SEK17.6 billion. The board declared dividend of SEK3.00 a share.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc